SBI Holdings plans to create a new crypto asset fund that features a 50% allocation to XRP

Japan is and will remain one of the most important countries for Ripple and XRP. Despite the recent loss of XRP, significant changes to Japanese investors compared to Bitcoin, SBI Holding continues to promote the adoption of Ripple and XRP.


SBI Holdings plans to create a new crypto asset fund that features a 50% allocation to XRP

This is the opinion of Yoshitaka Kitao, CEO of SBI Holding, and a member of the Ripple board of directors. According to a presentation published yesterday, SBI plans to establish the first cryptocurrency fund in Japan, which will consist of 50% XRP, 30% Bitcoin, and 20% Ethereum.

The distribution clearly shows SBI Holding and Kitao continue to bet on XRP and even bullish its value, despite the disappointing price performance over the past two years.

The presentation stated:

“The fund is made possible by a partnership with an institution that is anonymous for the time being. What is certain, however, is that the crypto fund will be launched this summer, when the funds will be raised. The fund will be providing individual Investors with a crypto-asset fund that embodies the resources of the SBI Group. Furthermore, crypto-assets, which have a low correlation to traditional assets such as stocks, bonds, etc., enhance the effectiveness of diversification.”

SBI will use its subsidiaries for depository and fund management. SBI VC Trade will be responsible for depositing XRP, BTC, and ETH. SBI Alternative Investment Co., Ltd. will establish and manage the Electronic Fund.

It is worth noting that the 50% XRP, 30% Bitcoin, and 20% Ethereum portfolio of cryptocurrency funds are split according to the recommendations of Morningstar, Inc, a Chicago-based global financial services company. , as can be seen from the presentation.

The published cryptocurrency fund is another evidence of SBI Holding’s confidence in Ripple and its technologies. SBI is one of the earliest and largest investors in Ripple. Just last week, SBI Ripple Asia announced that the testing phase for XRP-based solution (ODL) will soon end and that ODL will be widely deployed within the banking group. Currently, group banks are using RippleNet to process transactions. However, all of SBI Remit and SBI Ripple Asia’s partner banks plan to switch to ODL this year.

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